W1 price is located to be above Ichimoku cloud and above Senkou Span line which is the border of the cloud and virtual border between the primary bearish and the primary bullish trend on the chart.
The price was on the secondary correction since the end of January this year, and the ranging near-and-above Ichimoku cloud is started since the middle of March with the nearest support level at 6.4401. The price is ranging within the following
key support/resistance levels:
The price is crossing symmetric triangle pattern for the direction with Absolute Strength indicator estimating the correction to be continuing up to the bearish reversal.
If the price will break 6.3201
level so the reversal of the price movement from the primary bullish to the primary bearish market condition will be started. If the price will break 6.6508 resistance level from below to above so the primary bullish trend will be continuing. If not so the price will be ranging between the levels.
Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2016.04.06 06:51
USD/CNH Intra-Day Fundamentals: Caixin Services PMI and 45 pips price movement
2016-04-06 02:45 GMT | [CNH - Caixin Services PMI]
if actual > forecast (or previous one) = good for currency (for CNH in our case)
[CNH - Caixin Services PMI] = Level of a diffusion index based on surveyed purchasing managers in the services industry.
"March survey data pointed to a modest rebound in overall Chinese business activity, driven by slightly stronger growth of services activity and a renewed expansion of manufacturing output. The stronger performance of the service sector was highlighted by the Caixin China General Services Business Activity Index posting at 52.2, up from 51.2. That said, the reading continued to point to a modest rate of expansion that was slower than the series average. Meanwhile, manufacturing output returned to growth after an 11-month sequence of stagnant or reducedproduction, though the rate of growth was only marginal."
USDCNH M5: 45 pips price movement by Caixin Services PMI news event
Sergey Golubev, 2016.04.07 07:38
USD/CNH Technical Analysis: Trying to Extend Weekly Uptrend (based on the article)
Sergey Golubev, 2016.04.07 11:18
USD/CNH Intra-Day Fundamentals: China Foreign Exchange Reserves and 52 pips price movement
2016-04-07 09:04 GMT | [CNH - Foreign Exchange Reserves (MoM)]
A high reading is seen as positive (or bullish) for the CNY, while a low reading is seen as negative (or Bearish) for the CNY.
[CNH - Foreign Exchange Reserves] = It presents the total amount of foreign currency held by a government.
USDCNH M5: 52 pips price movement by China Foreign Exchange Reserves news event :
Sergey Golubev, 2016.04.09 09:10
Forex Weekly Outlook April 11 - 15 (based on the article)
The Japanese yen was the king in the past week, frustrating Japanese officials. Inflation data in the UK and the US, Retail sales PPI, and Consumer sentiment in the US, rate decisions in the UK and Canada, Employment data in Australia stand out. These are the main events on forex calendar.
Sergey Golubev, 2016.04.13 08:02
USD/CNH Intra-Day Fundamentals: CNY - USD-Denominated Trade Balance and 55 pips price movement
2016-04-13 02:22 GMT | [CNY - USD-Denominated Trade Balance]
if actual > forecast (or previous one) = good for currency (for CNY in our case)
[CNY - USD-Denominated Trade Balance] = Trade Balance in US Dollars terms.
USD/CNH M5: 55 pips price movement by CNY - USD-Denominated Trade Balance news event
Sergey Golubev, 2016.04.15 07:34
USD/CNH Intra-Day Fundamentals: China GDP and 38 pips range price movement
2016-04-15 02:00 GMT | [CNY - GDP]
[CNY - GDP] = Change in the inflation-adjusted value of all goods and services produced by the economy.
USD/CNH M5: 38 pips range price movement by China GDP news event
Sergey Golubev, 2016.04.23 08:53
Fundamental Weekly Forecasts for Dollar Index, USD/JPY, USD/CNH, NZD/USD, AUD/USD and GOLD (based on the article)
This pair was on ranging condition for whole the week with some new reversal levels and setups so let's describe some of the interesting moments for USD/CNH.------------------
D1 price is on ranging condition: the price is located near and below Senkou Span line which ias the virtual border between the primary ebarish and the primary bullish trend on the chart. The key reversal support/resistance levels for daily price are the following:
If the price breaks 6.4665 support level to below so the primary bearish trend will be continuing.If the price breaks 6.5165 resistance level to above so the ranging bullish reversal of the price movement may be started with 6.5587 bullish target.If not so the price will be ranging within the levels.
SUMMARY : ranging waiting for direction
Sergey Golubev, 2016.05.03 08:55
Intra-Day Fundamentals - Reserve Bank of Australia Cash Rate: 79 pips for USD/CNH and 141 pips for AUD/USD
2016-05-03 04:30 GMT | [AUD - RBA Cash Rate]
if actual > forecast (or previous one) = good for currency (for AUD in our case)
[AUD - RBA Cash Rate] = Interest rate charged on overnight loans between financial intermediaries.
AUD/USD M5: 141 pips price movement by RBA Cash Rate news event
USD/CNH M5: 79 pips price movement by RBA Cash Rate news event
Sergey Golubev, 2016.05.07 17:00
China’s forex reserves rise for second month in a row in April to US$3.22 trillion (based on the article)
USD to China Offshore Spot - intra-day bullish breakout; daily ranging to the bullish reversal; weekly ranging bullish; 6.5289 is the key level
H4 price is on bullish breakout: the price is teasting 6.5289 resistance level for the bullish trend to be continuing. The key bearish reversal level is 6.4858, and if the price breaks this level to below so the reversal of the price movement from primary bullish to the primary bearish market condition will be started.
Daily price is on ranging condition waiting for direction: if the price breaks 6.5289 resistance
to above so we may see the primary bullish trend on this timeframe without secondary ranging with good breakout piossibility.
Weekly price is on ranging bullish condition: if the price breaks 6.5289 to above so the bullish trend will be continuing, otherwise - ranging.